‘It’s historic unemployment, worst than the Great Depression,’ says economist

2020/05/29
 
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Economic Policy Institute Senior Economist Robert Scott joins Yahoo Finance’s Zack Guzman to discuss the latest economic outlook as states slowly begin to reopen.
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  1. Avatar A S says:

    Dont believe them! Inflation is gonna boost everything up!!!

    • Avatar Renardo palmer says:

      Yea Raise the price of goods and services and the stock market

  2. Avatar Apolonio Romero Jr. says:

    Thank You 😊 for posting this here ❤️ on Yahoo Finace News Alerts Sir 👍💯😉……..

  3. Avatar Apolonio Romero Jr. says:

    Those poor small businesses………

    • Avatar j says:

      They dont lose only their job but their entire livelihoods in many cases.

    • Avatar The Bastard Gift says:

      Small businesses, the backbone of the economy, when they falter (and they will) the economy will be blood on the floor.

  4. Avatar lydia yuna says:

    but the stock market just rallies , Dow + 700 on the monthly record high as economist predicts “worst depression”, who do we believe ?

    • Avatar Gene Schenone says:

      Believe the Bible history repeats it self prepare for a beyond great depression it’s over around the world evil has surfaced

    • Avatar rock Onmyboi says:

      @S. Dares start you’re own IRA, it’s easy. Take care of your future self contributing what you can as you go. It’s rough out there.

    • Avatar VogtTD says:

      @lydia yuna It went to the stock market because our political system is owned and operated by corporations.

    • Avatar PLAN B says:

      Rising prices means dollar devaluation.

    • Avatar Jeffrey D. says:

      The most important difference people seem to leave out of the equation is the internet! We have the internet now so some people saved their jobs and were able to keep an income. Some people make a living from the internet. Some businesses are conducted online etc… stock trading is also a job that some people have and it pays when you do your research and read the charts.. something 1929 depression can’t be compared to

  5. Avatar Jodi-ann Francis says:

    Just like the almighty says, there shall be a time upon this Earth such as man has never seen before. He never lies.

    • Avatar BIT says:

      Something always happens like never before. What is the ultimate here? The Noah’s Flood, The Black Death, The Spanish Flu, WW1, WW2? Something devastating happens now and then and humanity slowly recovers and life returns back to normal.

    • Avatar QuadQ says:

      This is it- never seen this worldwide situation, over soon, quite disappointing if that was it ??

  6. Avatar Jess Yates says:

    Unemployment does not matter, the rich will spend the economy back to health and the folks without jobs can scrabble to do what ever they can do to make ends meet. Its not even a new normal its the same ol same ol.

    • Avatar Ellen Gran says:

      The US ship is shrinking. In order to maintain living standard they have to throw parts of the population to the sharks.

    • Avatar Jess Yates says:

      @Ellen Gran Here fishy fishy 😛

    • Avatar Wobbo says:

      This is historic unemployment. Never before seen levels of unemployment.

  7. Avatar Brutus Alwaysmind says:

    Absolutely. A MAJOR recovery plan in the way of infrastructure development is essential after the relief period is over. Republicans don’t believe in relief and neither party is addressing the need for a serious recovery plan. God Bless America.

    • Avatar james morton says:

      got your rice & beans ? S E R I O U S L Y
      40,000,000 MILLION HUNGRY PISSED OFF AMERICANS
      CORPORATE WELFARE REQUIRED, TRUE COST OF PRODUCTION
      HAS NEVER BEEN PAID, DEAD WORKERS ARE NOT PROFITABLE
      DEMAND SAFTEY & A REAL WAGE

    • Avatar rock Onmyboi says:

      I’ve been thinking that they should have had a plan ready for years to boost us out of eventual downturns.

  8. Avatar DEBBY HUGHSON says:

    Depression started.

    • Avatar dom1abc1mbc says:

      ive always been depressed before the economy thot it was cool

    • Avatar ILikeChopin says:

      Depression started long time ago for a good percentage of people. This is why Prozac, Zoloft, Paxyn are on the market…

    • Avatar nder1477 says:

      I’d call it the beginning of the end….so the word I would use is collapse…. not depression….

    • Avatar ILikeChopin says:

      @nder1477 True, because for depression there is a cure… Prozac! 😉

  9. Avatar YOU GOT pranked says:

    the unemployment is 50% is this guy forgetting furlough

    • Avatar ILikeChopin says:

      They are like prophets forecasting a horrific end of the world due to the flue

    • Avatar Andre Thorpe says:

      @ILikeChopin the Coronavirus was just the final trigger that is bringing down a “Ponzi scheme” of massive proportion that under REAL CAPITALISM would have made corrective adjustments a decade ago. To much socialistic monetary policies for the wealth generation of the 1% & their interests paid for by public debt on the back of the 99%
      taxpayer class..

  10. Avatar Stephen Ethredge says:

    Because the country isn’t open tell your government you want the country to open back up so people can get back to work

    • Avatar savagedragon79 says:

      Nah, I’m going to collect unemployment and enjoy a few months off grilling steaks and fishing. I will come out with a nice chunk of money by the end of July.

    • Avatar rock Onmyboi says:

      It’s pretty much open

  11. Avatar Doris Karloff says:

    This vid’s title SHOULD read “…*WORSE* not “WORST” than the Great Depression…” Basic English grammar is sadly crashing, as well. You’re a smart sounding fellow, come on…🙄😆

    • Avatar conscious thought says:

      It’s good to see that someone else notices the slow erosion of grammar and sentence structure.

    • Avatar BrewsandBass says:

      I’m surprised it doesn’t say Wurst.

    • Avatar Pray Unceasingly says:

      @BrewsandBass
      Liverwurst than the great depression

  12. Avatar American Scarelines says:

    The country is reopening, time to get back to work.

    • Avatar rock Onmyboi says:

      Safely

    • Avatar Steve Varholy says:

      To what jobs? Hertz, Airlines, Hotels and a lot of small businesses are not coming back…

    • Avatar Ash says:

      At the rate we’re going, everybody’s gonna need to work 2 full time jobs.

    • Avatar BigBank New York says:

      @Ash that was 40% of Americans pre-Covid

  13. Avatar Carissa Howell says:

    And yet, Kevin Hassett, Trump’s economic advisor, doesn’t believe that people need anymore stimulus and expects the economy to start to recover by June. And then goes on to reduce American workers as “human capital stock”. If you can justify that and don’t see that as a perfect example of what this administration thinks about Americans, it’s simply because you are willfully obtuse.

    • Avatar Shahin says:

      Keeping people poor and desperate in the face of disease and death forces people to work shitty jobs for crap pay and risk their lives.

      That’s the only thing they’re thinking about. Apple doesn’t care if you die, as long as they got to swipe your credit card before you croak. Sadly, this is America now.

    • Avatar Pray Unceasingly says:

      @Shahin
      How do you think companies make profits? Its not by paying 50 dollars an hour to every employee. Profits are the point of business. Not charity. Do you have a better idea to base an economy on besides communism or capitalism?

  14. Avatar din tang says:

    I rather be on unemployment. Get paid more than going to work. Y work for less? Not only that, i dont have to pay mortgage for a year! Fed said unlimited free $$$ the American dream!

    • Avatar watchman001 says:

      that philosophy works until the people responsible for making the food in your house happen take on the same belief

    • Avatar Renardo palmer says:

      If that happend then you will be paying for goods and services at a way higher price in no time 🤣. Hyperinflation at its highest

    • Avatar Kenneth King says:

      It only works till everything becomes unaffordable. Have fun spending $10 a gallon on gas, $700 or $800 a week on groceries.

  15. Avatar james morton says:

    TRUMP might want to leave now. 40 MILLION HUNGRY, ANGERY, AMERICANS
    WILL WANT HIM

  16. Avatar Curbside Sports says:

    Yeah, it’s *WORSE*

  17. Avatar j says:

    These politicians/big business better put the needs of Americans first during the recovery or else they will hang in public squares all across America. You watch and see.

  18. Avatar Optimist Prime says:

    Pizzeria on my street is struggling to keep up. I have been ordering in but they used to get a lot of foot traffic. I don’t think they will make it to end of June unless the neighboring business get through

  19. Avatar cassius c says:

    *worse than..

  20. Avatar Salim Huerta says:

    Great Depression coming 2021 …

  21. Avatar cyberstrike19791 says:

    These grids are such crap…. For example. Nevada is presently shut down. There is not a single casino on the strip open. No pools, no nightclubs, no local casinos, no gyms, no movie theaters, etc. Who puts these broken views together!!!???

  22. Avatar Ruff Stuff says:

    Bet they weren’t giving away 600 bucks a week to people in Great Depression thou….🤷‍♂️I’m just thinking out loud

  23. Avatar John Bailey says:

    How is there a grammar mistake on the title of a video FOR YAHOO NEWS?! Comparative form of “bad” is “worse”, thank you very much.

  24. Avatar Dave santella says:

    Tough to force people to go back to work when the jobs are not there to hire people… PEUC will need to be extended until Unemployment is below an acceptable percentage.

  25. Avatar Omid Vasefi says:

    Hello Google please turn off closed captioning

  26. Avatar Braddon Schulze says:

    The rich and wealthy prosper and the working class and poor suffer and die , so much for making America great

  27. Avatar kingdomfor1 says:

    America was built on slavery, when that ended and the elite had to pay people to work for them , they had to work out a way to pay them as little as possible , and the best way to do that was to control the government , and that is exactly what they’ve done.

  28. Avatar Cody B says:

    Car factories are taking away summer shutdowns to work the economy cant be that bad then !!!

  29. Avatar nder1477 says:

    Boeing lays off thousands AFTER receiving billions in gov’t aid to….wait for it ….. retain employees during pandemic….ok….
    The market loves cutting jobs….Boeing stock up 7 bucks a share…..yipee…..
    You can force people back to work, but I have yet to see a successful strategy in forcing them to BUY……and with a third of your workforce not working….exactly how are people supposed to afford to buy anything anyways…..sorry Wall street….people actually need jobs to participate in your capitalist system…..no money = no funny….

  30. Avatar Wes T says:

    BULLISH

  31. Avatar Clyde Triplett says:

    Time to f in get China 🇨🇳

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